Appeal details
Counselvise Citation
[2017] 124 COUNSELVISE.COM (IT) 5419 (ITAT-HYDERABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
19 day(s)
Appellant
Respondent
Appeal Type
Miscellaneous Application
Pronouncement Date
17-03-2017
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
Not Allotted
Next Hearing Date
17-03-2017
Assessment Year
2010-2011
Appeal Filed On
27-02-2017
Judgement Text
MA NO 9 OF 2017 PROLIFICS CORPN LTD HYDERABAD PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER M.A. NO.09/HYD/2017 (ARISING OUT OF ITA NO.1646/HYD/2014) (ASSESSMENT YEAR: 2010-11) PROLIFICS CORPORATION LTD (PREVIOUSLY KNOWN AS SEMANTICS SPACE TECHNOLOGIES LTD) HYDERABAD PAN: AAGCS 6868 P VS DCIT, CIRCLE 3 ( 1 ) HYDERABAD FOR ASSESSEE : SHRI SAMPATH RAGHUNATHAN FOR REVENUE : SMT. SUMAN MALIK, DR O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS APPLICATION IS FILED BY THE ASSESSEE SEEKING RECTIFICATION OF CERTAIN MISTAKES APPARENT FROM REC ORD FROM THE ORDER OF THE TRIBUNAL DATED 28.09.2016. 2. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED T HAT THE TRIBUNAL HAS DISPOSED OF ITA NO.1646/HYD/2014 V IDE ORDER DATED 28.09.2016 IN WHICH THERE ARE SMALL TYPOGRAPH ICAL ERRORS WHICH NEED RECTIFICATION. HE POINTED OUT THAT IN PA GE 9, PARA NO.8 OF THE ORDER, THE TRIBUNAL HAS OBSERVED THAT THE AS SESSEE HAS PROVIDED AN ADVANCE OF RS.9,28,37,001 ON BEHALF OF ITS AE TO SST NORTH AMERICA, WHEREAS THE ACTUAL FIGURE IS ONLY RS .4,28,37,001. DATE OF HEARING : 17.03.2017 DA TE OF PRONOUNCEMENT : 17.03.2017 MA NO 9 OF 2017 PROLIFICS CORPN LTD HYDERABAD PAGE 2 OF 3 3. FURTHER, THE LEARNED COUNSEL ALSO POINTED THAT IN PARA 10.1 OF THE ORDER, THE TRIBUNAL HAS DIRECTED THE AO TO RE-WORK OUT THE INTEREST ON LOAN PROVIDED BY THE ASSESSEE, WHER EAS THE ISSUE ALSO INVOLVED ADVANCES. THEREFORE, HE REQUESTED THA T THE WORD AND ADVANCES BE INSERTED AFTER THE WORD LOAN IN PARA 10.1. 4. ON THE OTHER SUBMISSIONS MADE IN THE M.A. THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT MAKE ANY O RAL SUBMISSIONS DURING THE COURSE OF HEARING. THEREFORE , THEY ARE TAKEN AS NOT PRESSED. 5. AS REGARDS THE POINTS 1 & 2 POINTED OUT ABOVE, W E HAVE VERIFIED THE RECORD AND WE FIND THAT THE ASSESSEES CONTENTIONS ARE CORRECT. THEREFORE, WE DIRECT THAT IN PARA NO.8 ON PAGE 9, THE FIGURE OF RS.9,28,37,001 SHALL BE READ AS RS.4,28,3 7,001. 6. FURTHER, WE ALSO FIND THAT LINE TWO AND THREE IN PARA 10.1 NEEDS RECTIFICATION. THEREFORE, THE PHRASE LO ANS AND ADVANCES PROVIDED BY THE ASSESSEE SHALL BE READ IN THE PLACE OF LOAN BROUGHT BY THE ASSESSEE. THE MA IS ACCORDIN GLY PARTLY ALLOWED. 7. IN THE RESULT, MISCELLANEOUS APPLICATION FILED B Y THE ASSESSEE IS PARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH MARCH, 2017. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 17 TH MARCH, 2017. VINODAN/SPS MA NO 9 OF 2017 PROLIFICS CORPN LTD HYDERABAD PAGE 3 OF 3 COPY TO: 1 PROLIFICS CORPORATION LTD (PREVIOUSLY KNOWN AS SE MANTICS SPACE TECHNOLOGIES LTD) PLOT NO.1 SURVEY NO.14, 5 TH FLOOR, DHLFVC SILICON TOWERS, MADHAPUR ROAD, KONDAPUR, HYDERABAD 500032 2 DCIT CIRCLE 3 (1) HYDERABAD 3 DRP-1 HYDERABAD 4 DCIT (TRANSFER PRICING)-II HYDERABAD 5 THE DIRECTOR OF INCOME TAX (IK.T & T.P) HYDERABAD 6 CIT-III HYDERABAD 7 THE DR, ITAT HYDERABAD 8 GUARD FILE BY ORDER
